Tyler Technologies, Inc. (NYSE:TYL – Get Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $680.50.
Several analysts recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Tyler Technologies from $640.00 to $610.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Piper Sandler reduced their price objective on shares of Tyler Technologies from $747.00 to $708.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. Robert W. Baird reduced their price objective on shares of Tyler Technologies from $785.00 to $700.00 and set an “outperform” rating on the stock in a report on Friday, April 25th. Needham & Company LLC reiterated a “buy” rating and set a $750.00 price target on shares of Tyler Technologies in a research note on Tuesday, May 13th. Finally, Wall Street Zen lowered shares of Tyler Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, May 21st.
Read Our Latest Report on Tyler Technologies
Tyler Technologies Trading Up 0.7%
Tyler Technologies (NYSE:TYL – Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The technology company reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.22. The firm had revenue of $562.43 million for the quarter, compared to analysts’ expectations of $556.45 million. Tyler Technologies had a net margin of 13.23% and a return on equity of 10.29%. The company’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.20 EPS. As a group, equities research analysts predict that Tyler Technologies will post 8.52 EPS for the current year.
Insiders Place Their Bets
In related news, CFO Brian K. Miller sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $580.72, for a total transaction of $696,864.00. Following the sale, the chief financial officer now directly owns 13,772 shares in the company, valued at approximately $7,997,675.84. This represents a 8.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Abigail Marshall Diaz-Pedrosa sold 375 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $573.60, for a total transaction of $215,100.00. Following the sale, the insider now owns 247 shares in the company, valued at $141,679.20. The trade was a 60.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,500 shares of company stock worth $15,177,230 over the last three months. Company insiders own 1.10% of the company’s stock.
Institutional Trading of Tyler Technologies
Large investors have recently made changes to their positions in the company. Exchange Traded Concepts LLC increased its stake in shares of Tyler Technologies by 12.6% during the first quarter. Exchange Traded Concepts LLC now owns 501 shares of the technology company’s stock worth $291,000 after buying an additional 56 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in Tyler Technologies by 20.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 42,500 shares of the technology company’s stock valued at $24,507,000 after purchasing an additional 7,300 shares in the last quarter. Kensington Investment Counsel LLC boosted its holdings in Tyler Technologies by 0.8% in the fourth quarter. Kensington Investment Counsel LLC now owns 2,496 shares of the technology company’s stock valued at $1,439,000 after purchasing an additional 20 shares in the last quarter. CX Institutional acquired a new position in Tyler Technologies in the first quarter valued at approximately $176,000. Finally, EP Wealth Advisors LLC boosted its holdings in Tyler Technologies by 268.5% in the fourth quarter. EP Wealth Advisors LLC now owns 1,861 shares of the technology company’s stock valued at $1,073,000 after purchasing an additional 1,356 shares in the last quarter. 93.30% of the stock is currently owned by hedge funds and other institutional investors.
About Tyler Technologies
Tyler Technologies, Inc provides integrated information management solutions and services for the public sector. It operates in two segments, Enterprise Software and Platform Technologies. The company offers platform and transformative technology solutions, including cybersecurity for government agencies; data and insights solutions; digital solutions that helps workers and policymakers to share, communicate, and leverage data; payments solutions, such as billing, presentment, merchant onboarding, collections, reconciliation, and disbursements; platform technologies, an application development platform that enables government workers to build solutions and applications; and outdoor recreation solutions, including campsite reservations, activity registrations, licensing sales and renewals, and real-time data for conservation and park management.
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